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Coca-Cola reports rise in fourth-quarter profit
The Coca-Cola Company has reported solid fourth quarter 2009 operating results, with unit case volume increasing 5%, successfully cycling 4% growth in the prior year quarter.
For the full year, unit case volume increased 3%, in line with the company’s long-term volume target. Internationally, it achieved broad-based unit case volume growth of 6% in the fourth quarter, cycling 6% growth in the prior year quarter.
In the quarter, unit case volume increased strongly in key emerging markets (China +29%, India +20%), developing markets (Brazil +8%, Mexico +4%) and developed markets (France +12%, Germany +3%).
Further, in the 118 countries with per capita consumption of company products less than 150 eight-ounce servings per year, The Coca-Cola Company achieved 12% unit case volume growth in the quarter.
Highlights
- Strong worldwide unit case volume growth of 5% in the quarter and 3% for the full year, in line with long-term volume target, and driven by international volume growth of 6% in the quarter and 4% for the full year.
- Fourth quarter reported EPS was $0.66, up 53%, with comparable EPS up 3% to $0.66. Full year reported EPS was $2.93, up 18%, while comparable EPS was down 3% to $3.06 reflecting a negative currency impact.
- Reported operating income increased 4% in the quarter, and decreased 3% for the full year. Comparable currency neutral operating income was even for the quarter, and grew 7% for the full year, in line with long-term target.
- Strong cash flow generation continued, with full-year cash from operations up 8% to $8.2bn.
- Global non-alcoholic ready-to-drink beverage volume and value share gains continued for the 10th consecutive quarter.
- Productivity initiatives are on track to achieve the company’s goal of $500m in annualised savings by year-end 2011, with more than half of the savings realised by year-end 2009.
Source: The Coca-Cola Company
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